Ernesto Cordero

Ernesto Cordero News

• Mexico Revenue Budget Seen Quickly Passing Senate, Milenio Says

  The president of Mexico’s Senate said the upper house probably will approve “very quickly” the revenue portion of the 2013 budget presented yesterday by President Enrique Pena Nieto’s government, Milenio reported.

• Mexico Will Probably Raise 2010 Growth Forecast After IMF, Cordero Says

  Mexico’s government is likely to raise its 2010 economic growth forecast following an increased estimate from the International Monetary Fund, Finance Minister Ernesto Cordero said.

• Cordero Says Mexico’s 2011 GDP May Expand Up to 5% on Domestic Consumption

  Mexico’s government is raising its forecast for growth this year, betting that rising domestic demand will allow the economy to maintain momentum after the strongest expansion in a decade last year.

• Mexico’s Output Gap to Keep Inflation on Target, Cordero Says

  Mexico’s economy has room to grow before reaching its capacity and government subsidies for gasoline insulate the country from rising oil prices to keep inflation in check, said Finance Minister Ernesto Cordero .

• Cordero Said to Resign as Mexico Finance Chief in Order to Seek Presidency

  Mexican Energy Minister Jose Antonio Meade will take over as finance minister from Ernesto Cordero, who is stepping down to run for the presidency next year.

• Cordero Says Mexico Growth Solid Amid Fed's `Bad News' to Emerging Markets

  Mexican Finance Minister Ernesto Cordero said the country’s recovery is “solid” even as he warned the U.S. Federal Reserve’s decision to pump $600 billion into its economy may be “bad news” for emerging markets.

• Mexico's Cordero Sees No Need for Capital Controls as Foreign Inflows Rise

  Mexico doesn’t need to use capital controls to offset the effects of investment inflows because the country’s currency is undervalued when compared with its pre- crisis level, Finance Minister Ernesto Cordero said.

• Mexico May Expand Monthly Auctions, Won't Limit Peso's Gains, Cordero Says

  Mexican Finance Minister Ernesto Cordero said policy makers may raise the size of monthly dollar option auctions and said officials won’t intervene directly in the peso market no matter how much the currency advances.

• Mexico’s Cordero Expects Central Bank to Diversify Assets

  Mexican Finance Minister Ernesto Cordero said the nation’s reserves haven’t lost value due to market volatility and that its credit rating won’t be affected by a downgrade of the U.S. by Standard & Poor’s.

• Mexico May Raise 2011 Growth Estimate, Cordero Says

  Mexico expects to raise its economic growth estimate for 2011 from the current forecast of 3.9 percent as U.S. industrial production and internal demand improve, Finance Minister Ernesto Cordero said.

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Quote

• "We do not believe that this event has affected the outlook on Mexico's rating for the moment."

  - Ernesto Cordero on Aug 08, 2011

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